Salary of a Certified Public Accountant

A CPA maintains and evaluates the financial records of a company. The salary of a certified public accountant has always seen a rising trend. This article presents a salary guide of a CPA based on experience and location.

CareerStint Staff

Last Updated: May 31, 2018

Did You Know ?

Successful CPA exam candidates cannot use the 'Certified Public Accountant' (CPA) title until the certificate (license) application has been approved by the Board of Accountancy.

A certified public accountant (CPA) analyzes complex business problems, and ensures financial integrity through evaluation of accounts. He plays an important role in strategic tax planning and investments. With the help of the reports presented by the CPA, the management can take decisions on how the money should be spent, and how the product and the revenue can be improved.

Instead of the term 'Certified Public Accountant', the term 'Chartered Accountant' (CA) is used in countries which follow the UK convention, for example, Asian countries like India, Malaysia, also in New Zealand and Australia. A certified public accountant's responsibilities include financial planning, book-keeping, auditing, and tax-related activities. He/she is expected to deal with all financial transactions and understand the related legal issues.

CPA Salary Range

The salary range of a CPA depends upon a lot of factors like the state he/she practices in, the position, the organization that he/she works for, and his/her experience.

Based on these criteria, the salary figures can be in the range of USD 44,740 to USD 120,000.

With an average of USD 68,150 per year. Bigger states like New York offer a higher salary as compared to smaller states.

*The above figures are as per BLS .

Salary of a Chief Financial Officer

The salary of a chief financial officer (CFO) can be between USD 177,928 - USD 473,450, and may vary according to the years of experience, skills, size of the company, location, etc.

Educational Qualification of a Public Accountant

A master's degree coupled with the CPA certification can help you earn an even better salary. A candidate with CPA certification can receive 5-15% more salary than his non-credentialed counterpart. The starting salary of a CPA will vary based on his/her education and experience. Over time, more frequent and higher-level promotions can widen the gap between the salary of a certified public accountant and his/her non-credentialed counterpart to as much as USD 50,000.

CPA Salary According to Experience

Entry Level

Around USD 56000

Mid Career

USD 45,865 - USD 96,470

Experienced

USD 52,000 - USD 134,000

Late Career

USD 92,000 - USD 201,000

CPA Salary According to Location

Location

Average Salary

Alabama

USD 56,340

Alaska

USD 74,400

Arizona

USD 71,424

Arkansas

USD 73,194

California

USD 88,795

Colorado

USD 61,941

Connecticut

USD 60,039

Delaware

USD 72,320

Florida

USD 60,987

Georgia

USD 75,818

Hawaii

USD 60,000

Idaho

USD 58,000

Illinois

USD 58,792

Indiana

USD 77,166

Iowa

USD 61,930

Kansas

USD 58,782

Kentucky

USD 57,000

Louisiana

USD 102,397

Maine

USD 62,000

Maryland

USD 77,130

Massachusetts

USD 73,844

Michigan

USD 70,031

Minnesota

USD 58,545

Mississippi

USD 51,204

Missouri

USD 63,455

Montana

USD 45,334

Nebraska

USD 55,494

Nevada

USD 53,458

New Hampshire

USD 82,332

New Jersey

USD 86,057

New Mexico

USD 70,058

New York

USD 88,940

North Carolina

USD 72,000

North Dakota

USD 50,868

Ohio

USD 60,204

Oklahoma

USD 54,000

Oregon

USD 59,392

Pennsylvania

USD 65,398

Rhode Island

USD 60,000

South Carolina

USD 80,000

South Dakota

USD 48,367

Tennessee

USD 58,808

Texas

63,905

Utah

USD 72,155

Vermont

USD 65,000

Virginia

USD 68,027

Washington

USD 80,000

West Virginia

USD 64,329

Wisconsin

USD 63,383

Wyoming

USD 43,891

*The above figures are as per PayScale and indeed.com. All figures mentioned in this article are in US Dollars.

You can consider this field if you have a genuine interest in it. As you can see, a career as a CPA/CA and the associated salary for deserving candidates is extremely attractive.